Land Registry figure show rise in Sefton house prices

HOUSE prices in Sefton have risen by over 5% in the last year, new figures reveal.

The average house price in the borough was recorded at £135,411, in May 2010, compared with £128,666 the year before, according to the Land Registry data.

Sefton remains below the national average of 8.2% growth, but is well ahead of Liverpool, which experienced a year-on- year drop of -5.1% – making it the third worst performing housing market in England and Wales.

Sefton’s increase may be welcome news to sellers, but the borough’s average is still only in line with the average in April 2005. The area’s peak came in May 2008 when the average house price in Sefton was £154,757.

Several estate agents in Southport said they were cautious of the latest figures, due to the changeable climate in the current market. All of those that spoke to the Visiter, said that sellers must remain realistic when pricing their house, and not over-estimate its worth.

Tina Morris, manager at Lynn Thompson Estate Agents, on Post Office Avenue, said: “Every month is different, we never know what is going to happen next. We will get a flurry of activity, then all of a sudden it stops.

“Until the banks start lending again people are stuck in a catch 22 situation. There has been too many negative things happening, so the market it just at complete unease.

“But if you have got a realistically priced house it will sell because there are buyers out there – just very few in comparison to a normal market.”

Nigel Bailey, from Bailey Estates on Liverpool Road, Birkdale, agreed. He said: “Business is getting busier and we are selling more properties month-by-month but only ones that are realistically priced.

“Some vendors are still holding out for 2006-2007 prices, which was when the market was peaking.

“If no one is walking through your door and we have done all we can to market it, the reason it is not selling is just down to pricing.

“For the next 12 months it is difficult to say what is going to happen, but it is still going to be a depressed market. I think the next 24 months will be steady and the market will just be keeping its head above water, but that does not dampen our spirits – we have got confidence in going forward.”

Matthew Hawksworth, business development manager at Anthony James Estate Agents on Anchor Street, added: “I think property prices in Southport have not increased by 5.2%. We have been static in terms of asking prices for the best part of 12 to 18 months.

“It is very difficult to tell what is going to happen over the next year but my instinct tells me that things are going to remain largely as they are.

“I do not believe that it is going to get any worse, or that house prices are going to go up.

“For us things are ticking over nicely at the moment and we are still selling properties that are reasonably priced.

“If your house is not priced realistically you won’t get viewings or sell your property, but that is true even when the market is normal.”